Abbott Laboratories $ABT Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC trimmed its stake in Abbott Laboratories (NYSE:ABT) by 5.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,221 shares of the healthcare product maker’s stock after selling 122 shares during the quarter. Bristlecone Advisors LLC’s holdings in Abbott Laboratories were worth $302,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Abbott Laboratories in the first quarter worth $1,658,180,000. Goldman Sachs Group Inc. boosted its position in shares of Abbott Laboratories by 29.2% in the first quarter. Goldman Sachs Group Inc. now owns 15,985,797 shares of the healthcare product maker’s stock worth $2,120,516,000 after buying an additional 3,616,471 shares during the period. Wellington Management Group LLP boosted its position in shares of Abbott Laboratories by 12.8% in the first quarter. Wellington Management Group LLP now owns 29,763,415 shares of the healthcare product maker’s stock worth $3,948,117,000 after buying an additional 3,371,113 shares during the period. TD Asset Management Inc boosted its position in shares of Abbott Laboratories by 98.6% in the second quarter. TD Asset Management Inc now owns 3,467,896 shares of the healthcare product maker’s stock worth $471,669,000 after buying an additional 1,721,523 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Abbott Laboratories by 12.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 14,451,305 shares of the healthcare product maker’s stock worth $1,916,966,000 after buying an additional 1,639,954 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CFO Philip P. Boudreau sold 5,550 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $134.55, for a total value of $746,752.50. Following the completion of the sale, the chief financial officer owned 51,003 shares of the company’s stock, valued at $6,862,453.65. The trade was a 9.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.46% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ABT shares. Barclays raised their target price on Abbott Laboratories from $159.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Sanford C. Bernstein raised their target price on Abbott Laboratories from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, October 16th. Benchmark initiated coverage on Abbott Laboratories in a research report on Friday, October 10th. They set a “buy” rating and a $145.00 price objective for the company. BTIG Research reissued a “buy” rating and set a $145.00 price objective on shares of Abbott Laboratories in a research report on Wednesday, October 15th. Finally, Morgan Stanley lifted their price objective on Abbott Laboratories from $127.00 to $137.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Abbott Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Abbott Laboratories Price Performance

Shares of NYSE:ABT opened at $124.42 on Thursday. Abbott Laboratories has a fifty-two week low of $110.86 and a fifty-two week high of $141.23. The business has a 50-day moving average of $131.78 and a two-hundred day moving average of $131.64. The stock has a market capitalization of $216.55 billion, a P/E ratio of 15.59, a P/E/G ratio of 2.40 and a beta of 0.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.82 and a quick ratio of 1.30.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 15th. The healthcare product maker reported $1.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.30. Abbott Laboratories had a return on equity of 17.78% and a net margin of 31.88%.The company had revenue of $11.37 billion during the quarter, compared to analysts’ expectations of $11.40 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Abbott Laboratories has set its FY 2025 guidance at 5.120-5.180 EPS. On average, equities research analysts predict that Abbott Laboratories will post 5.14 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Wednesday, October 15th will be given a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.9%. Abbott Laboratories’s payout ratio is currently 29.57%.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.